Category > Editorial of October 2008

Friday October 31, 2008 Author: Hachioji Yamada

The Yomiuri Shimbun

Dissolution postponement regime operates to increase the more severity the House of Representatives (2008/10/31 Yomiuri Shimbun editorial)

  • Prime Minister Taro Aso was O~tsu to select "the House of Representatives than dissolution, financial and economic measures".
  • Yen trend has continued. Also appeared movement of the "credit crunch" is in the local financial institutions, but also adversely affect the real economy.
  • In opinion polls, such as the Yomiuri Shimbun, there is an increasing dissolution postponement theory from the priority position of the economy policy.
  • The additional measures, the straight-line benefits amounting to 2 trillion yen in total and be paid to all households, a significant reduction of expressway toll, expansion of mortgage tax relief, 1 trillion from the road specific resources to the general financial resources of the region such as that to issue a circle has been included.
  • So far the Democratic Party, in the hope that early dissolution, has been cooperation in the deliberations, such as to vote in favor of the first supplementary budget.
  • However, a vote of the new Anti-Terrorism Special Measures Law amendment for refueling activities extended by the Maritime Self-Defense Force in the Indian Ocean, was postponed by reversal.
  • It's opportunism be at an end corresponding.
  • Prime Minister "after the bold administrative reform, would like to ask after three years in terms of we saw the economic situation the increase in the consumption tax" at a press conference made it clear with.
  • "The Japanese economy heal three years" out of the situation, in order to continue to perform such a responsible policy, it is still essential stable political frameworks.
  • Prime Minister, there will be a need to ask the public's trust as early as possible.
Quote source: YOMIURI ONLINE

Nihon Keizai Shimbun

The ruling and opposition parties are committed to the early realization of additional measures (2008/10/31 Nikkei editorial)

  • The government and the ruling party together an additional economic measures to a total 2 trillion yen "benefits" provision such as the pillars of the scale, Prime Minister Taro Aso has announced at a press conference.
  • Revival of the financial function enhancement method that enables proactive capital injection into the local financial institutions, play a role that financial institutions lack equity capital to prevent the curb excessive lending.
  • Expansion of credit guarantee frame for small and medium-sized companies, but necessary measures to suppress the credit crunch of the financial institutions.
  • Investment and energy-saving-related, tax measures to encourage domestic reflux of earnings of foreign subsidiaries, are intended to contribute to the strengthening of growth potential, it can be evaluated.
  • Extension of securities preferential taxation, can be seen in that they avoid the confusing system review for investors.
  • Become a final stage, defined contribution pension (Japan Version 401k) to but also incorporated measures to acknowledge the plus employee contributions, this is the correct measures to contribute to the long-term asset formation.
  • Expansion of mortgage tax cuts, will lead to some degree of underpinning of leverage and consumption of housing investment.
  • On the other hand, it can not be positive assessment is paid benefits totaling 2 trillion yen. Consumption stimulating effect was compared to the financial cost can not help but said to be small.
  • Along with to the road specific resources such as gasoline tax to general revenue, it is nice to turn the 1 trillion yen in local, also it's necessary, such as not to useless used the way pawl.
  • Farmers for support also runs counter to the agricultural reform if stay in something like a plus of acreage reduction subsidy.
  • Aso prime minister "while watching the economic situation, would like to ask the consumption tax hike in three years," he said. Not only just a tax increase, unless it does not lead to national peace of mind it is shown the figure of the same combined pension and social security reform.
  • The world of the stock in the financial crisis of unprecedented, exchange market is confused, among which there is an increasing uncertainty about the future of the economy, it said that the prime minister was postponed was the unavoidable decision to disband.
  • Democrats who have cooperated in such early passage of the supplementary budget, which was converted into tactics to obtain a thorough deliberation, to or stretching unnecessarily the vote of the extension bill of refueling activities in the Indian Ocean it is too opportunism.
  • Diet but will face the harsh reality of the Diet twist again, the responsibility to fulfill the Democratic Party of the upper house first party is extremely heavy.
Quote source: NIKKEI NET

Asahi Shimbun

The decision what to dissolution of the House of Representatives general election crisis overcome (2008/10/31 Asahi Shimbun of the editorial)

  • General election of the House of Representatives, which was also seen as the end of November I had to be postponed.
  • Although Prime Minister Taro Aso did not dare so stated at a press conference that announced the new economic measures, and expressed the highest priority to measures to the financial crisis and recession.
  • If Prime Minister this crisis is trying to break in earnest, eventually question the trust in the general election early back to the origin, and It will not be only regain the strength in politics.
  • It 's now the impact on the real economy of the financial crisis is serious. A few years would be the correct answer is who was expected to continue.
  • You can not afford to make a blank than a month in the general election in this emergency, there may also view that.
  • But, if It will not be than better that regime lacking in confusion and leadership of politics continues much more "space".
  • Disbanded the end of the year at the earliest it is, or will the new year. Deliberations of the next fiscal year budget if you miss there, Tokyo Metropolitan Assembly election, the dates of such major countries Summit followed.
  • Even it will Koyo out a possibility that led to loose To September of the expiration of his term election.
  • It can not be for the sake of this country. Prime Minister should be decided disbanded until the beginning of the year or the end of the year.
  • It is a shortcut of crisis overcome.
Quote source:

Sankei Shimbun

Me give our best to additional economic measures market stability (2008/10/31 Sankei Shimbun claims)

  • Prime Minister Taro Aso business scale 27 trillion yen, has announced additional economic measures that government spending of the country amounting to 5 trillion yen. At the same time it was stated that it raise the consumption tax after three years.
  • It was that it forgo immediate about the focus of the dissolution of the House of Representatives. Judgment of the Prime Minister to focus on whether suppress how an adverse effect on Japan by the US financial crisis's reasonable.
  • Although the Prime Minister stressed the economic recognition of the "100 years to once originated in the United States storm", when we cursory look at the additional economic measures, it is hard to find a ball rather than a mixture of wheat and chaff.
  • benefits, especially the straight-line tax cut initiative has changed the appearance is full problem. What is more problematic is the its financial resources. And of using the reserve surplus, such as fiscal investment and loan special account so-called buried treasure.
  • Such a surplus is supposed to be legally devote to government bonds redemption. It's a substantially the same it and the deficit bonds issued if Atere to another Shito.
  • Aso administration is at the very least, and as soon as possible embody the tax reform medium-term program development, including the consumption tax in order to ensure the social security funding, would be to collateral in the legislation of the implementation.
  • The together important is the market measures. US financial crisis, market capitalization of the First Section of the Tokyo Stock Exchange's blown at 100 trillion yen.
  • Relaxation of mark-to-market accounting is also good if applied to the most recent balance sheet.
  • This is the procedure requires a legal amendment, as long as the Democrats oppose, it is a situation where the bill is to go through the House of Representatives re-voting is not satisfied.
  • Prime Minister but by narrowing their choices of the regime operated by dissolution send-off, we were asked for policy implementation.
  • Immediately offer a meeting to Ozawa Ichiro representative of the Democratic Party, we should discuss the resolution of urgent issues that are required to state affairs.
  • Democrats want even aware that the crisis response force have been tried.
Quote source: MSN Sankei News
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